<html><head></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">The inflation issue had more to do with centralized currencies' bias toward longer savings periods. <div>P2P currencies lose value over time because the grain store needs to be paid, and so on. </div><div>Long distance currencies need to remain steady for longer periods, so that merchants can bring them across Europe. <br><div><br></div><div><br><div><div>On Feb 17, 2011, at 3:18 PM, Dante-Gabryell Monson wrote:</div><br class="Apple-interchange-newline"><blockquote type="cite">additional note :<div><br></div><div>I believe that a lack of inflation is a really big problem in a situation with parallel economies.</div><div><br></div><div>I have the feeling the ones who have money ( and power over money ) may try to keep inflation low "in the real economy", </div>
<div><br></div><div>keeping wages down,</div><div>and maintaining the value of their money in comparison to man/hour/slavery purchase,</div><div><br></div><div>yet at the same time speculate on certain goods, such as housing,</div>
<div>so much so that people that work may not even be able to buy a house anymore.</div><div><br></div><div>In effect, it becomes an ideal approach to dispossess the population,</div><div>increase the share of ownership within the hands of a minority,</div>
<div>and increase the dependency of the population on renting resources it needs for survival but does not own anymore.</div><div><br></div><div>Probably this would require more details and references - it probably opens up a long conversation that can be continued on some other list...</div>
<div><br></div><div><br><div class="gmail_quote">On Thu, Feb 17, 2011 at 9:08 PM, Dante-Gabryell Monson <span dir="ltr"><<a href="mailto:dante.monson@gmail.com">dante.monson@gmail.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex;">
Hi Patrick,<div><br></div><div>is there any chance that you are asking questions to answers you perhaps already found ? ;)</div><div>... to incite us to think ? :)</div><div>... or to find out what we come up with ?</div>
<div>
<br></div><div>you ask : </div><div class="im"><div><i><span style="border-collapse:collapse;color:rgb(80, 0, 80);font-family:arial, sans-serif;font-size:13px;font-style:normal">> So governments had the authority to issue currency for themselves,<br>
> but then gave it away to private corporations?</span></i></div><div><br></div></div><div>My current short answer :</div><div><br></div><div>There apparently have been different periods in the recent US history what concerns control over monetary creation,<div>
including times where central private banking was a big issue in political campaigns.</div><div>( if I remember properly, as seen on this video - <a href="http://video.google.com/videoplay?docid=-515319560256183936#" target="_blank">the money masters</a> - )</div>
<div><br></div><div>Charters to a central bank have not always been renewed.</div><div><br></div><div>for example :</div><div><br></div><div><a href="http://en.wikipedia.org/wiki/First_Bank_of_the_United_States" target="_blank">http://en.wikipedia.org/wiki/First_Bank_of_the_United_States</a></div>
<div><br></div><div><a href="http://en.wikipedia.org/wiki/Second_Bank_of_the_United_States" target="_blank">http://en.wikipedia.org/wiki/Second_Bank_of_the_United_States</a></div>
<div><br></div><div>There is a big dependency of politicians in Governments towards money, </div><div>so when money is centrally controlled by ( officially semi-public ) private banks,</div><div>I di question : whom has control over whom ?</div>
<div class="im">
<div><br></div><div><span style="border-collapse:collapse;color:rgb(80, 0, 80);font-family:arial, sans-serif;font-size:13px">> I've heard people say "It is to control inflation" as though those<br>
> private corporations have more self-control than governments.</span></div><div><font color="#500050" face="arial, sans-serif"><span style="border-collapse:collapse"><br>
</span></font></div></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">some economists say</span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">interest leads to inflation...</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br></span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">around 5min30</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br></span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse"><a href="http://www.youtube.com/watch?v=QuBy3BzCXwg" target="_blank">http://www.youtube.com/watch?v=QuBy3BzCXwg</a></span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br></span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse"><a href="http://www.youtube.com/watch?v=QuBy3BzCXwg" target="_blank"></a>-----</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br></span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">What concerns me, is that in addition to this,</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse">there seem to be at least two parallel economies :</span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br>
</span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">- the real economy : in which people try to survive and purchase goods for survival,</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse">potentially investing in some needed infrastructure.</span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br>
</span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">- the speculative economy : in which investors try to maximize profits by creating speculative bubble economies, likely to be disconnected from the needs of people.</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br></span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">When the speculative economy accelerates the bust of the real economy,</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse">or vampirizes it by sucking up money in circulation in the real economy,</span></font></div><div>
<font face="arial, sans-serif"><span style="border-collapse:collapse">my perception is that it hurts, really badly.</span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br>
</span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">The current financial and monetary system may facilitate such speculative economy,</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse">as it requires exponential monetary growth.</span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br>
</span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">I imagine that such risk could also appear with other monetary architectures / any artificially scarce currencies ? ... Any markets allowing unlimited speculation ?</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br></span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">But I do not believe all p2p currencies are fundamentally flawed... and anyway, I believe its worth a try... currency monopolies are, from my point of view, a big risk.</span></font></div>
<div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br></span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse">Diversification can enable us to test out a variety of architectures, and choose the most suitable currency characteristics adapted to the contexts we may want to use them...</span></font></div>
<div><div></div><div class="h5">
<div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br></span></font></div><div><font face="arial, sans-serif"><span style="border-collapse:collapse"><br>
</span></font></div><div><br><div class="gmail_quote">On Thu, Feb 17, 2011 at 7:56 PM, Patrick Anderson <span dir="ltr"><<a href="mailto:agnucius@gmail.com" target="_blank">agnucius@gmail.com</a>></span> wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
<div>Kevin Carson wrote:<br>
> The government, at least to the extent that bank licensing and legal<br>
> tender laws are enforceable.<br>
<br>
</div>So governments had the authority to issue currency for themselves,<br>
but then gave it away to private corporations?<br>
<br>
How funny.<br>
<br>
I wonder why they did this. It must be for the best, right?<br>
<br>
I've heard people say "It is to control inflation" as though those<br>
private corporations have more self-control than governments.<br>
<br>
If this logic is true, does that mean all the P2P currencies are<br>
fundamentally flawed?<br>
<br>
If this logic is false, does that mean our governments and the<br>
corporations that operate those governments are lying to us?<br>
<div><div></div><div><br>
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